What if YA have suddenly found out that FRR were about to issue a CPR at the month end, with a couple of conditional offers for the assets. And Zaza was planning a celebratory drink with suffering LTH, to celebrate burning all the shorters Georgian style.
Wouldn't YA want to get their hands on shares quickly to save their blushes and burning their shorts.
We can hope.
I think Zaza deserves some credit for keeping the shareholder meetings going. We are still better informed than we used to be, and I'm sure rightly, he knows we are a tough crowd. Surely he will want to give us some good news, as it will be hard to dodge the half yearly update. I live in hope that there is a carefully crafted plan in play here, which clearly includes cutting any cosy ties with YA. Definately another step in the right direction.
I agree this supports Zaza tough approach to control and limit the damage from YA. And it's clear they are spitting their dummy out of the cot! It will not be worth YA while to argue over the difference their claiming, and they will back off from trying it on.
Happy Monday. First impression is that this is yet another attempt to prize shares from LTH. It would seen YA are trying to take the Michael, which Frontera are not standing for. Considering where we are, this is not a significant issue and is more of a smoke screen. Holding tight.
There definitely seems to be much more openness about the genuine prospects of Georgia oil and gas opportunities, which is attracting new players, media coverage and investments. I'm confident that the majors have been in play for many months, and maybe the RNS is a signal that the political instability has finally been resolved. With block 12 full scale development getting the green light. We could hopefully see a flurry of activity over this quarter. The shorters would be brave to short this now, which can only be a good thing.
I think we will also see an updated CPR this month.
That should help set a price tag.
It's worth remembering the clues that were given by Steve Nicandros during his shareholders telephone conference. He commented to shareholders to look at XTO energy, who were taken over by Exxonmobile for a staggering $36 billion. That deal: On December 14, 2009, ExxonMobil agreed to acquire XTO Energy Inc. through a merger.[16] ExxonMobil acquired XTO Energy in a deal valued at $36 billion, involving the issuance of 416 million shares of stock and assuming the company's $11 billion in debt. Now wouldn't something like that be nice. I can't help think that our negotiations are at an advanced stage, and maybe this will play out in full before the year end.
"the potential of its assets is consistent with what a globally leading oil company would look for to generate meaningful growth"
For the LTHs and 'investors' of Frontera through the many years of exploration, this is hopfully the start of the end.
The company has a viable commercial asset, which is in early exploitation and field development.
The first exploitation of Taribani is worth $billions, and I have no doubt the deal is being thrashed out with the support from US government.
I would imagine that such a legal agreement on data exchange would be time specific. The majors have had a look and done their initial investigation. They know what they expect to see now in Frontera's books.
Then it's all down to the price.
Remember XOM... hoping this punt is life changing.
Great RNS. These talks are already at an advanced stage following site visits and mertings, and so the majors have clearly taken a bite. No immediate requirement to co-mingle the zones, which suggests the volumes flowing on their own are higher than anticipated. Majors would have agreed to the wording of this RNS. The news and research might suggest Exxon and SOCAR are in the mix. Next news CPR announcement, and then hopefully a deal is inked. It could happen quickly. Bring on a suspension.
Lol. But it was the Atlantic Council who flowered praise on Steve Nicandros, who he was congratulated by a foreign diplomat on his discovery in Georgia. Rather embarrassing if untrue.
The Moldovan PM even went on a high profile TV media stunt to sign off Frontera on a 50 year deal.
That deal reportedly involves confidential clauses, and Frontera need to commence that work before January, which of course will need funding. An impossible task to pull off, if they sha#t us now.
I think it's worth remembering that if Frontera have shaft+d PI' to sell themselves at a loss, then there is also a long list of some prestige institutions being shaft@d too: US Senate (Embarrassing the US) Atlantic Council Moldovan Prime Minister (on national TV) Moldovan people (on national TV) Georgian Government Georgian Employees (growing in number) 3m institutional investor for Niko Outrider etc. The list goes on. How about a little positivity, which I know is hard with the shorters or others trying to force out us little PI's with the declining SP. How about.... Updated CPR is drafted and will be released before half year results. This will show booked reserves from Zones 9, 14, 15, 19, 20+. It may even recognise the actual presence of gas from UD2. The SP will see a significant improvement, maybe the demand to get in will be so high we see a suspension. Full field development plan to be announced with the funding in place, maybe even a joint venture with SOCAR Georgia and GOGC or maybe an outright sale of Frontera Eastern Georgia for $1billion + We sail off into the sunset having flogged our golden tickets, while Frontera lives up to its promise, to find another world class asset in Moldova to make them country energy independent too. One things for certain, the clock is ticking towards the grand reveal good or bad. But the shorters or others trying to prize the shares from LTH who have been in here years, will have to prize me from my shares. One can dream.
Don't suppose they'll discuss SOCAR and GOGC buying out Frontera's block 12. Now wouldn't that be nice.
"Prime Minister of Georgia Mamuka Bakhtadze will visit Azerbaijan on August 30, the State Chancellery of the Georgian Government said on Aug. 25. Mamuka Bakhtadze will hold a number of meetings with Azerbaijani officials in Baku. Further strengthening of the strategic partnership between the two countries, the processes taking place in the world and the region and the prospects for the development of large-scale energy and infrastructure projects will be discussed during the meetings."
Maybe that's why we are seeing positive tweets about the Georgian economy, to counter any perverse claim we are trying to damage it.
"to exploit and/or develop oil, gas and mineral RESERVES". (Field development)
Like someone said a while ago... You don't fight over an empty box, and you certainly don't pay 1,000 per hour to do so. GOGC want a larger slice of this world class asset (that is yet to be fully declared), and they're looking to Uncle Sam to help realise this. One way or another this will get negotiated, because there is plenty to go at, and because Uncle Sam has passed legislation to say they will assist.
For those skilled in the art of research, I'm sure they can find enough casual links to big companies like SOCAR, BP or a Turkish company. The question would be, is what does it all mean, and who exactly is supporting Frontera in the US. Do you believe the asset is in the ground, and that its worth while to be produced. If so it won't stay in the ground for too long. Perhaps the most important signal, will be the politics falling into line.
Not sure if anyone has access to the below webpage, but it suggests that AGRI project is now being financed. https://en.trend.az/business/energy/2937344.html If true, this is significant news for Georgia and Frontera. It opens up the gas export market for Georgia, across the Black Sea to Romania. EU have invested heavily on interconnected pipes across eastern Europe, with reverse flow. It would allow Georgian gas to reach eastern Europe, inc. Moldova and Ukraine.
If the near term goal is to book reserves from Taribani, I wonder if there is any industrial knowledge on how long the EWT has to run for in order to be sufficient to prove up and book the reserves for each particular zones.